Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<html><body>
GUEST OBSERVATION
Over one-quarter, or 26%, of lenders have now made interest rate cut announcements, including all four major banks, according to <a href="https://finder.com.au/" target="_blank">finder.com.au</a>. 
However, just one of the 30 lenders has passed on the rate cuts to existing and new customers so far, which was BankVic with an effective date of 9 February, 2015. <a href="https://Loans.com.au" target="_blank">Loans.com.au</a> was first to drop its rate for existing customers with its rate-linked home loan while cuts for other borrowers will take effect on 23 February, 2015.
So most borrowers won't receive a rate reprieve until 22 February on average, which means it will be in next month's statement.
The latest to make a rate cut announcement was Aussie, which followed the pack and will drop its variable home loan rates by 0.25 percentage points, effective February 23, 2015.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="205"> Lender</td>
<td valign="top" width="205"> Rate cut</td>
<td valign="top" width="205"> Effective date</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/amp-capiutla-nov-19-logog.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">23 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/anz-aug-4-logo-breakout.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">12 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/ausie-jan-15-breakout.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">23 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/bank-of-melbourne-aug-4-logo-breakout.png" width="200px"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"> <img src="/images/3_StockBreakouts/Company-Logos/BOQ-aug-13-logo.jpg" width="200">
</td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">24 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"> <img src="/images/3_StockBreakouts/Company-Logos/banksa-logo.jpg" width="200">
</td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/BankVic-logo-breakout.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">9 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"> <img src="/images/3_StockBreakouts/Company-Logos/Bankwest-Logo.jpg" width="200">
</td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/bendigo-bank-feb-10-breakout.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">27 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/citibank-feb-10-breakout.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"> <img src="/images/3_StockBreakouts/Company-Logos/cba-aug-4-logo-breakout.jpg" width="200">
</td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/cua-lgoo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">24 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"> <img src="/images/3_StockBreakouts/Company-Logos/logo_Greater_Building_Society.jpg" width="200">
</td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/heritage-bank-logo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/hsbc-logo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/ing-direct-logo.jpg" width="200"></td>
<td valign="top" width="205">-0.50%</td>
<td valign="top" width="205">10 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/loans.com.au-logo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">4 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/maitland-mutal-logo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">23 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/me-bank-aug-4-logo-breakout.png" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/nab-aug-4-logo-breakout.png" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/newcastle-pernamnet-logo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">23 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/pbbanklogo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">6 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/peopleschoicelogo.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">24 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/rams-feb-10-breakotu.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/st-george-aug-4-logo-breakout.png" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/SMSCSelfEmp.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">27 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/suncorpimage.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">27 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/UBank_UHomeLoanNOV.jpg" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">25 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/westpac-aug-4-logo-breakout.jpg" width="200"></td>
<td valign="top" width="205">-0.28%</td>
<td valign="top" width="205">20 February 2015</td>
</tr>
<tr>
<td valign="top" width="205"><img src="/images/3_StockBreakouts/Company-Logos/ybr-aug-4-logo-breakout.png" width="200"></td>
<td valign="top" width="205">-0.25%</td>
<td valign="top" width="205">24 February 2015 </td>
</tr>
</tbody></table>
Source: finder.com.au, ranked alphabetically. Dates may vary for some customers.
*Some loan changes may be effective from 15/3/15.
With all lenders so far passing on at least the full 0.25 percentage point rate cut, we estimate that by next month there will be 158 variable rate home loans under 1.60%, <a href="https://finder.com.au/home-loans" target="_blank">out of almost 1,400 home loans monitored</a> by finder.com.au.
These lenders that will offer introductory or ongoing variable home loan rates under 4.6% include CBA, <a href="https://Loans.com.au" target="_blank">Loans.com.au</a>, HSBC, UBank, Heritage Bank, Yellow Brick Road, CUA, BankVic, Bankwest, IMB, Aussie, Macquarie Bank, Bank of Sydney, AMP, Citibank, ING Direct and more.
It's a great time for borrowers to find out what rate they will be on once the rate cuts come into effect and compare it to other home loans. Variable rate borrowers shouldn't accept an interest rate over 5% next month and should renegotiate with their lender or switch to a cheaper deal.
For instance, if you have the average variable home loan rate of 5.5% and it falls to 5.10%, switching to 4.60% for a $300,000 home loan could save you $91 per month or over $32,000 over 30 years.
This money is up for grabs and it's up to borrowers to jump online, talk to their lender or switch home loans and take the cash on offer.
<a href="https://www.finder.com.au/rba-cash-rate" target="_blank">Click here to view a table</a> of the lenders that have so far announced rate cuts and we will be updating this page as we hear more announcements.
Michelle Hutchison is spokesperson for comparison website <a href="https://finder.com.au/" target="_blank">finder.com.au</a>.
</body></html>

mhutchison-SWt6qigzDX

The banks make their moves following RBA cut: Michelle Hutchison

<html><body>
Sydney's prices are set to fall when interest rates rise again, predicts HSBC Australia chief economist Paul Bloxham.
HSBC predicts that Sydney's house prices could drop by 2% in 2016 after its third consecutive strong year forecast for 2015. It would happen after the official cash rate moved from a forecast 2% this year to an average 2.75% in 2016.
He also warns that Sydney's market is "at risk of a bubble", saying the current level of growth in Sydney home prices is unsustainable and "likely to be met with declines in future years, when interest rates do begin to rise".
Click on charts to open in new window.
<a href="/images/2015/02/10/Picture%2036.png" target="_blank"><img src="/images/2015/02/10/Picture%2036.png" alt=""></a>
"A signal of the growing risk of over-inflation in the Sydney market is the high level of investor demand," Bloxham explains.
"Housing loan approvals for investors currently account for a record high share of new loan approvals in New South Wales." (See chart below).
<a href="/images/2015/02/10/Picture%2037.png" target="_blank"><img src="/images/2015/02/10/Picture%2037.png" alt=""></a>
"The high involvement of investors suggests that there is a speculative dynamic in the Sydney market that may be worrisome," said Bloxham.
"Investors are typically seeking capital gains, rather than rental yield, as Australia's tax system favours capital gains.
"Investors themselves tend to be lower risk borrowers, as they typically have equity in another owner-occupied property and have lower loan-to-valuation ratios than first home buyers.
"In this way, it is not clear that investor involvement is leading to increased financial system risk. However, it does seem likely that increased investor activity is driving housing prices to rise faster than fundamental factors suggest they should in the Sydney market."
HSBC predicts that Sydney's house prices could drop by  2% in 2016 after 9% to 10% growth in 2015, its third strong consecutive year.
<img src="/images/2015/02/10/forecasts.jpg" alt="">
Note: HSBC's forecasts assume their cash rate predictions for 2016.
In the latest HSBC Downunder Digest, which is headlined "Australia's housing boom may get bubbly", Bloxham calls interest rates "the single most important determinant of housing price dynamics in Australia".
However, he notes that "monetary policy is being pushed to its extremes" with the latest rate cut to a record low 2.25% by the Reserve Bank, with the market anticipating another rate cut.
<a href="/images/2015/02/10/Picture%2031.png" target="_blank"><img src="/images/2015/02/10/Picture%2031.png" alt=""></a>
Of the Australian Prudential Regulatory Authority's (APRA) decision to tighten mortgage lending guidelines in December, Bloxham observes that "it is unusual in Australia for prudential policy and interest rate settings to be working in opposite directions".
Despite his concerns regarding a potential bubble in Sydney's market, Bloxham does not believe there is a national housing bubble, citing strong fundamental reasons for growth, including low housing supply, well allocated housing debt low urban density and high demand for property.
"However, we do see that the longer housing prices continue to increase faster than household incomes, the greater the chance a bubble could inflate." (See chart below).
<a href="/images/2015/02/10/Picture%2034.png" target="_blank"><img src="/images/2015/02/10/Picture%2034.png" alt=""></a>
"We are also starting to see pockets of the market where bubbles could be forming, given that interest rates have now been low for quite some time," warns Bloxham.
All charts sourced from HSBC.
</body></html>

jrichardson-uRX5hFdKfN

Sydney prices to fall: HSBC's bubble warning

<html><body>
GUEST OBSERVATION
While there may still be a bit of steam left in Sydney’s property engine, I previously described Sydney’s market fundamentals as being <a href="/expert-insights/sydney-s-property-market-is-a-house-of-cards">as fragile as a house of cards</a>.
A statement in February’s Reserve Bank press release could be a suggestion that a joker in the pack may soon be played.
It is this statement from the RBA that could suggest that policy makers may soon play that joker:
"Credit growth picked up to moderate rates in 2014, with stronger growth in lending to investors in housing assets. Dwelling prices have continued to rise strongly in Sydney, though trends have been more varied in a number of other cities over recent months. The Bank is working with other regulators to assess and contain economic risks that may arise from the housing market".
The concerns for Sydney are these:
<ol>
<li>Lack of affordability (long been Sydney’s Achilles heel),</li>
<li>A very high level of sales transactions to investors,</li>
<li>Potential tightening of credit policy specific to Sydney,</li>
<li>Potential policy changes by Australia’s Foreign Investment Review Board to curb Asian investors, and</li>
<li>A significant supply of <a href="https://www.propertyology.com.au/wp-content/uploads/2014/04/ApartmentsApproved_States_2014-04.jpg" target="_blank">new dwelling stock in the pipeline</a>.</li>
</ol>
Under ‘normal’ circumstances the RBA responds to a property boom with a few interest rate hikes to caution consumers. But this current boom is isolated to Sydney – it’s not like the RBA can raise rates just in Sydney.
In fact, the RBA’s decision at its February meeting to reduce rates has the potential to add fuel Sydney’s market. A subdued employment market and sharp declines in commodity prices are bigger national issues which forced the RBA’s hand.
This is where that “working with other regulators to assess and contain economic risks that may arise from the housing market” comment is so interesting. What if the Foreign Investment Review Board passed legislation to restrict Asian investment in Australian real estate? Joker number one!
What if banks (with some ‘encouragement’ from the likes of APRA and / or RBA) tighten their credit policy just on Sydney-based securities to shelter themselves from extra risk? Banks have been known to do this before when they’ve identified a ‘location risk’ in the likes of the Pilbara and Moranbah. Joker number two!
Another possibility lies in China where there are reports of residential market declines of 15% over the last 12 months. Chinese banking executives and economists say that a severe housing downturn could cause a considerable increase in non-performing loans amongst Chinese banks. We know that when times get tough investment properties are often one of the first assets disposed of in order to bring the household budget back in to order. Further instability in China’s market could result in high levels of resale stock in Sydney. Joker number three!
Regardless, we expect vacancy rates to increase and rental yields to reduce in Sydney. An unhealthily high ratio of investor-owned properties is already occurring with ABS data confirming that 60% of NSW home loan approvals (refer Sydney) were for investors [30% is ‘normal’].
The Fundamentals
The performance of Sydney’s property market over the past 18-24 months is as spectacular as it is concerning.
Contrary to tabloid rhetoric, outside of Sydney, property markets are experiencing <a href="https://www.propertyology.com.au/wp-content/uploads/2014/04/MedianValues_Capitals_2011-2014.jpg">a predictable post-GFC recovery phase</a> with normal rates of growth (0 to 6%) over the past 12 months.
The state of New South Wales is home to 7.4 million people (a third of <a href="https://www.propertyology.com.au/wp-content/uploads/2014/10/Aust_PopulationConcentration.jpg">Australia’s total population</a>) and 4.3 million (18.7%) of these are in Sydney
<img src="/images/2015/02/09/pressley%20feb%209%20one.png" alt="">
Greater-Sydney can be broken in to ‘Metropolitan’ and ‘Western Sydney’. With a population of 2.06 million people (8.9% of Australia), Western Sydney on its own is bigger than the combined populations of South Australia, Tasmania, ACT, and Northern Territory.
With a median house price of $730,000 Sydney is the least affordable location in Australia (miles above the capital city average of $580,000).
For the same price that you can buy a Sydney apartment (median value $576,000) you can buy a house in every other location in Australia with the exception of Melbourne.
Sydney’s population growth rate has been below the national average for much of the past 10 years, and only ahead of economic minnows South Australia and Hobart. Rate of growth is completely different to population size.
<img src="/images/2015/02/09/pressley%20feb%209%20two.jpg" alt="">
New South Wales has a long history of people immigrating away from Sydney to alternative locations. Cost of living, especially housing, is a key factor.
<img src="/images/2015/02/09/pressley%20feb%209%20three.jpg" alt="">
Sydney has been Australia's worst performing capital city market since the 2000 Olympic Games. Sydney’s high property prices meant less buyer competition to force the rate of growth that other locations around the country have historically experienced. It’s not until we had 60-year low interest rates that Sydney has first significant price growth spurt in more than a decade.
<img src="/images/2015/02/09/pressley%20feb%209%20four.jpg" alt="">
Through 2000 to 2010, the NSW unemployment rate was regularly above the national average. A massive job swing has recently occurred; of the <a href="https://www.propertyology.com.au/the-environment-for-property-investors-is-healthy/" target="_blank">134,408 jobs created nationally</a> during 2014, 52,975 of these were in Sydney. Boom!
<img src="/images/2015/02/09/pressley%20feb%209%20five.jpg" alt="">
Metropolitan Sydney is Australia’s white-collar capital and unemployment rates are currently up to 50% better than the national average. Much of the recent jobs growth has been in white collar sectors such as financial services. If only people can afford to buy a property in Metro Sydney.
Large parts of Western Sydney, on the other hand, have significantly fewer job opportunities. Manufacturing accounts for 16% of jobs (not ideal in the current climate) while a fifth of all businesses are in the construction industry. Australia’s highest crime rates are in Western Sydney.
<img src="/images/2015/02/09/pressley%20feb%209%20six.png" alt="">
To overcome a reported 182,000 job shortfall, tens of thousands of people have to commute from the more affordable western suburbs to work in metro Sydney each day.
Transport infrastructure has not kept pace with population growth. The rail network has not been significantly expanded since the 1930s, yet the region’s population is now five times greater. The heavy reliance on passenger cars results in horrendous traffic congestion, loss of productivity, and high fuel costs. Remember that earlier Interstate Immigration graph?
15 years of babble about Sydney having run out of land and therefore having <a href="https://www.propertyology.com.au/wp-content/uploads/2014/04/Supply-and-Demand-State-by-State_2014.11.pdf" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">an under-supplied property market is not totally correct</a>. Metro Sydney’s land shortage has been compensated by higher density construction while sprawl has occurred to the west. Overall, dwelling construction was greater than required until the GFC handbrake was applied. The tightening of supply is another reason for the more recent pressure on Sydney property prices.
There is significantly more supply in the property pipeline. Building approvals are now at record levels.
<img src="/images/2015/02/09/pressley%20feb%209%20seven.jpg" alt="">
My money is on Sydney performing similar to the last 15 years – below the Australian average. But the immediate question is whether policy makers play one of those jokers!
Simon Pressley is managing director of Propertyology, a property market analyst, accredited property investment adviser, and buyer’s agent.
<a href="https://www.propertyology.com.au/more-than-a-buyers-agent/" target="_blank">Propertyology </a>works exclusively with property investors to purchase properties in strategically chosen locations all over Australia.
<h2>How to purchase high-performing investment properties: a free Propertyology eBook</h2>
 
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spressley-sBoeMhannA

The Sydney property market house of cards - the joker in the pack: Simon Pressley

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A preliminary weighted average clearance rate of 66.9% was recorded this week across capital cities compared to 61.6% last week and 68.2% this time last year.
<img class="aligncenter size-large wp-image-4245" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Capital-City-580x431.jpg" alt="Auction market review - Capital Cities" width="580" height="431">
This weeks result compares well to the 2014 market when an overall clearance rate of 67.8% was recorded. It also broadly reflects the moderate growth recorded in home values this year.
The positive impact of the rate cut will take a few weeks to be apparent on a national wide scale as volumes are still low. If the rate cut is to encourage a few more active buyers and sellers it will also take a few weeks to be obvious.
In Sydney a preliminary clearance rate of 80.5% recorded compared to 77.9% last week and 79.5% last year. Compared to last year this is near identical start.
<img class="aligncenter size-large wp-image-4247" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Sydney-580x396.jpg" alt="Auction market review - Sydney" width="580" height="396">
In Melbourne a preliminary clearance rate of 61.4% was recorded compared to 66.3% last week and 67.5% this time last year. It is still early but results so far make it interesting to see which way the market goes as the year has started with lower auction volumes and clearance rates.
<img class="aligncenter size-large wp-image-4246" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Melbourne-580x385.jpg" alt="Auction market review - Melbourne" width="580" height="385">
In Brisbane a preliminary clearance rate of 45.6% was recorded compared to 43.3% last week.
<img class="aligncenter size-large wp-image-4244" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Brisbane-580x390.jpg" alt="Auction market review - Brisbane" width="580" height="390">
In Adelaide a preliminary clearance rate of 61.1% compared to 52.7% last week.
<img class="aligncenter size-large wp-image-4243" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Adelaide-580x381.jpg" alt="Auction market review - Adelaide" width="580" height="381">
In Canberra a clearance rate of 62.8% was recorded compared to 72.7% last week, whilst for Perth a clearance rate of 35.7% was recorded.
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rlarocca-zWhvjay44N

No interest rate cut impact on auctions, yet: Robert Larocca

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Abolish payroll tax and kick start the economy; it’s that simple! 
Problem solved – cue the Henry Tax Review which found that of the major heads of taxation revenue, payroll tax is more damaging to the economy than company tax. 
When Australia entered the global financial crisis, instead of handing out money, payroll tax should have been immediately abolished. If Australia wants to have strong employment then back the engine room that drives the economy, instead of greedy states and territories trying to destroy it.
If the Prime Minister wants to save his position he should act immediately on this given last week’s cash rate cut is not going to save the economy. What we are clearly seeing now is home owners and property investors being given the greatest free kick in Australian economic history with the majority well ahead of their respective mortgage repayments. Unless something is done we will see the cash rate at the current level and possibly lower for quite some time to come.
One only has to look at the NSW report on state finances for 2013-14 where a surplus of $1.247 billion was announced thanks mainly to residential and commercial sales. Nobody likes paying stamp duty on real estate transactions especially since they too were supposed to be abolished in 2000 when the GST was introduced. For those who follow the property markets closely ask yourself one simple question – where would real estate prices be today if stamp duty had been abolished? You’re right – they would be much higher.
Back to the 2013-14 NSW state finances report where government revenue grew by 9.8% and expenses grew by just 4.6%. Payroll tax receipts were $248 million which was much less than forecast – surprise, surprise.
The Abbott government needs to act decisively and fast given the budget is in such disarray that this week we saw the governor of the Reserve Bank and the new head of Treasury deliver a dire warning to Cabinet that unless the Senate passes the government’s spending cuts, the budget is at risk of never getting back to surplus. If payroll tax was removed the government would get back to surplus much faster as businesses can then re-invest much more back into their respective businesses instead of being fined for employing people.
If Tony Abbott wants to shirt-front something then there would be no better place to start than by abolishing this absurd tax that is dragging the economy down. What remains to be seen is whether or not our politicians in Canberra have the economic intelligence to recognise this anchor on the Australian economy and act forthwith.
Interesting to read <a href="/expert-insights/finance/what-central-banks-around-the-world-are-doing-with-interest-rates">what central banks around the world are doing with interest rates</a> given many are now predicting that the RBA will cut again when they meet next month. The RBA recently released their credit aggregates for December 2014 which identified that home lending is now up to a record $1.42 trillion. Total credit grew by 5.9% with housing posting 7.1%, business 4.8% and personal credit 0.9% in annual terms. If payroll tax were to be abolished business credit would almost double – which is exactly what our economy needs. Why is it that that elected governments fail to recognise this, given this would also drive up spending and GST receipts?
Maybe we need to do a test case, so where better to start than NSW – the best performing state in Australia. NSW also has a state election looming so it would be political suicide for either major party to fight such a decision.
The states and territories made a mockery of removing nominated taxes when the GST was introduced so it’s high time the electorates started reminding these governments that enough is enough.
Aside from politicians, I am yet to find anyone who supports payroll tax in Australia.
So what does that tell you?
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robertsimeon-hRNTwJyXkQ

Abolish payroll tax and kick start the economy: Robert Simeon

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Docklands News recently reported on a proposal by company FCT Flames in conjunction with Avant-Garde de Studio to build a 'giant fountain and flame show'. According to the report the fountain and flame show would attract more than five million people to Docklands annually and generate at least $230 million for Victoria's economy every year.

From the <a href="http://www.docklandsnews.com.au/editions/article/docklands-offered-major-attraction_10532/">Docklands News report</a>:

<blockquote>
The fountain, which could also be transformed into a floating performance and event stage, would be located in Victoria Harbour, at the end of Central Pier.

Choreographed to music, the fountain would be programmed to music during the day and flames, pyrotechnics, video projection and lasers could be added at night for an even more awe-inspiring show.

With each show running for around 15 minutes, the fountain could be programmed to run multiple times per day or just a few nights per week.

It could also be programmed to match particular themes or special events.
</blockquote>

The populist view of Docklands is one of failure, wind-swept streets, and a lack of reasons for people - other than those who live or work there - to visit. My own view is not necessarily for or against the populist viewpoint, but it does involve various feelings which could be best described as moderate disappointment with a dash of faint positive hope for the future.

We've seen many attraction ideas for Docklands over the years with the most recent prior to the fountain and light show being a wave pool and urban beach at the end of Central Pier. To be frank, Melbourne isn't a beach city.

Sure, the metropolitan area wraps around an enormous body of water, but we're not a surfie city. Likewise the way Melbourne positions itself outside the typical koala, kangaroos and life's-a-surf-beach 'brand Australia' is our greatest strength.

The aspect I like the most with this proposal as reported in Docklands News: it's a robust outdoor space which can be adapted as needed and it would be accessible from multiple precincts within Docklands.

Victoria Harbour, the stadium precinct, Central Pier itself, Newquay and Waterfront City would all benefit from increased visitor activity and the impact on retail and hospitality facilities would have a more profound impact than an enclosed beach and wave pool.

The Docklands news report explores the proposal in more detail including looking at potential residential impacts and I recommend reading it. The video below is linked from the report.

Could this be the ticket for Docklands?

<iframe allowfullscreen="" frameborder="0" height="315" scrolling="no" src="https://www.youtube.com/embed/R_5zugCFij4" width="100%"></iframe>

Lead image credit: <a href="http://en.wikipedia.org/wiki/The_Dubai_Fountain">The Dubai Fountain, Wikipedia.</a>
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Alastair Taylor

A giant fountain in Docklands: could it be the ticket?

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Despite a drop in Sydney and Melbourne listings for January, property listings Australia-wide increased last month, according to SQM Research.
There was a marked increase in Darwin and Perth in particular, who have seen price downturns in the past year, which <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a> attributes to a slowdown in local mining industries.
<img src="/images/2015/02/09/sqm-feb-9-one.jpg" alt="">
Source: SQM Research
Across Australia, stock on the market was up 1.9% over January to 351,509 homes. The result was 2.7% higher than in January 2014.
Both Sydney and Melbourne recorded a drop in listings for the month, with Melbourne stock on the market down 0.8% and Sydney's listings down 3.1%.
Louis Christopher, managing director of SQM Research, said: "The Sydney market remains strong and we expect a very strong opening to the Sydney auction season this weekend. However this localised market strength is not really being experienced anywhere else outside Sydney. I would even argue that Melbourne remains patchy.
"Going forward, this week's rate cut should boost demand at the national level but we must remember local economic conditions are taking precedence in certain cities, namely those cities exposed to the mining downturn. As one can see with our listings and asking prices indexes, Perth and Darwin appear to be in deep trouble."
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Property listings increase over January: SQM Research

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Residential property developer AVJennings Limited has achieved a strong profit result on increased revenue of $118.5 million, up 13.7% on the corresponding period.
Increased production levels in improving market conditions were the catalyst for the strong first half results. It has previously advised affordability is an ongoing challenge but has been assisted by the benign interest rate outlook for the foreseeable future, only moderate price growth on the urban fringe of most capital city markets and Government incentives. 
It has also recently noted strong interest in purchasing lot equivalents shown by third party builders and developers across the states. 
AVJennings Chairman Simon Cheong advised today he expects contract signings for the year ending 30 June 2015 in the range of 1,700 to 1,900 lots; previously to was 1,500 to 1,700 lots.
Highlights for the half year ended 31 December 2014 were: • Profit up 34.9% to $16.8 million before tax and $11.9 million after tax • Revenue up 13.7% to $118.5 million • Work in progress levels up 58% to 1,539 lots compared to 31 December 2013 levels • Settlements up 22% to 660 lots (contract signings higher at 872 lots)
AVJennings CEO Peter Summers said consumer confidence was highest in New South Wales, and that Sydney remained the strongest market in the country with a continuing supply shortage and strong demand. The Sydney strength was pushing through to the Central Coast market too.
“Demand in Brisbane continues to rise with positive knock-on to the Noosa, Caloundra and Coomera markets, which are now also firmly in recovery," said Summers.
"The Melbourne residential land market remains stable, with the company generally experiencing good demand on its projects in the east and north-east of the city.
"The South Australian residential market remains stable but subdued overall.”
Lots under development continued to grow reaching 1,539 (1,264 lots as at 30 June 2014 and 974 lots as at 31 December 2013), which Summers said is a key indicator of future positive performance. The level of completed unsold stock remains stable and low.
AVJennings controlled 9,418 lots at balance date.
It recently contracted to purchase two new land parcels at Cobbitty, New South Wales comprising approximately 227 lots contiguous with its <a href="https://www.avjennings.com.au/NSW/DevelopmentProfiles/Arcadian_Hills.aspx?ShowMap=true" target="_blank">existing</a><a href="https://www.avjennings.com.au/NSW/DevelopmentProfiles/Arcadian_Hills.aspx?ShowMap=true" target="_blank"> Arcadian Hills project</a> (pictured above).
Arcadian Hills' first residents movied in during October 2014 as stage one of the estate had nearly sold out and the release of stage two brought forward due to demand. 
Just two years ago it cut the value of its Cobbitty, NSW project where bureaucratic red tape had been costly on getting approvals at its then 43 hectares of residential-zoned land in Sydney's south-west, where it hoped 470 lots could be developed.
Peter Summers told AV Jennings shareholders that market fundamentals remained positive, with strong consumer confidence to transact in housing bolstered by low interest rates and inflation, underlying housing shortages in some markets (especially Sydney and Auckland), strong population growth and a stable domestic macroeconomic outlook over 2015-2016.
 
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jchancellor-FAypfDUnLy

AVJennings profits up so buys more land for house and land packages at Cobbitty Arcadian Hills 

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The most affordable Sydney property reported sold at the weekend was a two bedroom unit on Equity Place at Canley Vale (building pictured above).
It sold for $307,000 through <a href="https://www.century21.com.au/property/314025/" target="_blank">Century 21 Southwest Fairfield agent Nick Dilles</a> to an owner occupier.
It last sold at $175,000 in 2009, having sold for even more in boom time 2004 at $195,000.
It was available for rent at a $260 asking rent of a week in 2011. It was most recently rented at $290 a week.
"It was a second floor unit in a modern block with great long term tenants on an expired lease," Dilles told Property Observer.
 It had two large bedrooms, large lounge/ dining area, eat-in kitchen, internal laundry, plus one bathroom.
The most expensive property reported sold at auction at the weekend was a three bedroom home at 27 Riverside Drive, Sans Souci (pictured below) that sold for $2,700,000 by Raine and Horne Sans Souci.  
<img src="/images/2015/02/09/sans%20souci%20feb%209%20one.jpg" alt="">
 
The 873 square metre waterfront reserve block sits opposite the water.
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Sydney's weekend cheapest, but big bounce back for Canley Vale offering

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Not too much has been happening at the top end of Sydney’s market, estate agent John McGrath candidly advised last week.
But things could be about to change, he suggests joining the long queue of forecasts following the global financial crisis that took a swath through toppy prices across Sydney.
"I’m betting the prestige market will perform very well in 2015, thanks to increasing money coming in from overseas, the continued strengthening of the financial services and banking sectors, returning ex-pats, and the declining Australian dollar," he summed up.
Anecdotal evidence can be seen in sales data, with McGrath Mosman, on Sydney’s Lower North Shore, recording $60.3 million in sales in December last year, a 167% increase when compared to December 2013.
He widens his blue-chip popularity prospects - especially with wealthy Chinese buyers - to Sydney's eastern suburbs. 
"Chinese interest in Australian property remains high but the next big trend is going to be India. 
"Like China, it has a rising middle class and trade is increasing between our two countries," he noted on his Switzer blog. 
One in five migrants entering Australia in FY13 were from India, according to the Department of Immigration; and private business investment from India has actually increased at a faster rate than China. (
"It is up 75.8% 2008-2013 compared to China 41.7%," McGrath indicated.
McGrath's migration outlook is a little more bullish than Macquarie Wealth Management research which suggest after a stellar run up, there are some early signs of moderation in net overseas migration, with the latest figures easing slightly back to an annual pace of 231,500, down 3% from its mid-2013 peak.
Macquarie noted the pace of migration remains high by historical standards, being 74% above the 30-year trend of around 133,000.
"These firm levels of net overseas migration continue to be the dominant driver of demand, as newly arrived immigrants tend to have more urgent housing needs than other forms of population growth, such as a new birth," Macquarie noted.
While 2014 saw more transactions, there was no noticeable price growth, McGrath conceded. Records show the group sold 27 properties above $7 million in 2014, or 42 properties above $6 million.  
In 2013, the group sold 18 properties above $7 million, or 34 properties above $6 million.
"An increase in transactions is always a positive sign that growth is on the way." 
Property Observer notes the two recent Point Piper listings that come after a busy year last year, and a $28 million sale already this year.
David Trew, the former Australian chief executive of CFD providers CMC Markets and City Index, has put his <a href="https://www.domain.com.au/property/for-sale/house/nsw/point-piper/?adid=2011485536&amp;sp=2" target="_blank">harbour front trophy home up for sale</a>. The three-level 1920s Hardy Wilson-designed cosy cove home was bought by Trew’s wife paid $25 million on Wolseley Road in 2009. It has been listed by Elliott Placks, of Ray White, who has been telling inspectees that there had been five sales above $30 million in Point Piper in the past year.
The one with gun barrel views is by McWilliam family who have listed <a href="https://www.domain.com.au/property/for-sale/house/nsw/point-piper/?adid=2011755677&amp;sp=1" target="_blank">their hillside offering through Brad Pillinger</a> (pictured above), seemingly with plans to move elsewhere on the peninsula.
In late December 2014, RP Data released a report showing the highest median value suburbs in every capital city for the year to September 2014. These are the prestige markets where the big money was being spent last year. 
Here are the top three suburbs in each state and territory for median house prices in 2014.  
Sydney 
1. Centennial Park - $5.494 million
2. Point Piper - $5.427 million
3. Elizabeth Bay - $4.834 million
Melbourne 
1. Toorak - $2.922 million
2. Kooyong - $2.104 million
3. Canterbury - $2.100 million
Brisbane 
1. Teneriffe - $1.520 million
2. New Farm - $1.259 million
3. Ascot - $1.235 million
Canberra 
1. Forrest - $2.151 million
2. Red Hill - $1.372 million
3. Yarralumla - $1.320 million
Perth 
1. Peppermint Grove - $3.741 million
2. Dalkeith - $2.551 million
3. Cottesloe - $1.867 million 
Adelaide 
1. Springfield - $1.642 million
2. Medindie - $1.486 million
3. College Park - $1.476 million 
Hobart 
1. Battery Point - $818,000
2. Sandy Bay - $659,000
3. Tolmans Hill - $622,000
Darwin 
1. Larrakeyah - $1.289 million
2. Fannie Bay - $1.125 million
3. Bayview - $1.089 million 
Source: RP Data 
"When activity in prestige property increases, it bodes well for the whole market," he concluded.
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